Why buy expensive designer wear when you can hire it online

Rather than splurging on a designer dress, which may be out of fashion soon, Bengaluru's women are renting it for a fraction of its priceIpsita Basu | ET Bureau | Updated: March 16, 2016, 09:51 IST

Imagine having tha head-turning dress worth Rs 15,000 for an evening at just Rs 800.

Renting fashion is the name of the game among Bengaluru's fashion forward women. Rather than splurge big money on a designer dress - which, in all likelihood, will be out of fashion before the next party -they are renting it for a fraction of its price.

Shwetambari Shetty, a city-based fitness expert, who was familiar with the concept in the US, is thrilled that platforms in India such as StyleBank deliver clothes to her doorstep. " would not have found the neon green dress, which I rented recently, on shelves here. This platform had it."

On-demand fashion is going all out to woo the urban Indian woman in tier-1 markets. Bhavna Suresh, StyleBank cofounder, says, "Most young women wear a statement outfit once or twice. Our value proposition is that they can rent and wear 10 garments for the price of purchasing that one dress."

Her platform, which opened in January , offers western garments in the range of Rs 1,700 to Rs 16,300 and has seen a peak of 15 orders a day at an average rental of Rs 800.

Customers who log into the site and select a garment and delivery time are allowed to keep it for the next 48 hours, at the end of which it is collected from their doorstep.

According to industry estimates, women's western wear market is expected to grow at 40% year-on year in India. Bengaluru, for instance, has a market size of about 220,000 women, prompting platforms like these to launch their operations here.

CandidKnots, which opened October last, averages a dozen orders a day but on New Year's Eve, it recorded 50 orders, its highest so far.

Unlike StyleBank, CandidKnots offers both men's and women's wear and also has Indo-western and Indian wear besides western clothing. Clothes priced between Rs 2,000 to Rs 1 lakh are rented out at 10% the cost. A refundable security deposit, 10% of the MRP, is charged.

Says cofounder Shweta Poddar, "We have people in the age group of 18-45 who have rented from us. While we have a three-day use period, they can extend it for an additional cost."

Research analyst Pooja Kalloor, who was scrambling to find the perfect dress for a cocktail party, decided to try renting. Now, she is a big fan of the concept.

"Renting a dress helps experiment without having to worry about investing in something that you might not wear again. Another important aspect is hygiene, which is taken care of, as these garments come professionally laundered," she enthuses.

Rentique, another online platform in the city that launched in February, currently operates through its social-media platform. Fashion-renter DressBank too operates through its store and also social media page.